South Korea is about to place the first order for LNG fueled vessels by August, in an attempt to develop green shipping and support associated industries, the oceans ministry informed earlier this week. The Ministry of Oceans and Fisheries will order two 200,000-ton class bulk carriers, to sail between South Korea and Australia.
After years of struggling with dwindling orders, the S. Korean shipbuilding industry is starting to show signs of recovery with a steady rise in orders. Busan needs to effectively use marine finance infrastructure and ensure its stronger presence as a marine finance hub city by focusing on changes.
Speaking at BAE Systems’ shipyard in Barrow-in-Furness Cumbria, the home of British submarine construction, the UK Defence Secretary Gavin Williamson announced £960 million worth of contracts have been signed to ramp up the next phase of construction for the UK’s four nuclear-armed Dreadnought submarines.
In Damen Shiprepair Dunkerque the work started on the conversion of the trailing suction hopper dredger “Samuel de Champlain” from diesel-electric propulsion to dual-fuel capability combining MGO and LNG. The vessel is expected to be operational by December 2018, and is supported by the EU.
Fincantieri announced the float out of the ocean cruise ship “Viking Jupiter”, which was built for Viking. The cruise ship is equipped with scrubbers and has energy efficient engines to meet with strict environmental regulations. The ship will have a gross tonnage of about 47,800 tons, 465 cabins with accommodation for 930 passengers.
Huntington Ingalls Industries’s Newport News Shipbuilding division will cooperate with 3D Systems to create additive manufacturing technologies expected to facilitate the adoption of metal 3-D printing in the naval shipbuilding industry. The collaboration will support future qualification and certification programs to implement this manufacturing technology for the US Navy.
FSO Ailsa is the world’s first Floating Storage and Offloading vessel with a 40-year hull lifespan. The ship is planned to set sail in June for the Culzean gas field in the UK North Sea. The vessel has a 430,000-barrel condensate storage capacity, and can have a 25-year continuous operability without drydocking.
Despite an overall improvement in the global shipbuilding industry, the bandages in international competition are getting tougher, with China attracting more and more orders in niche markets with prices below material costs, noted Germany’s Shipbuilding Association, VSM.
The Russian Government introduced an official order, dated 28 April 2018, which extends subsidies to Russian transport and shipping companies for partial covering of interest rates on loans obtained from Russian credit institutions for the purchase of fishing vessels.
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